Oct 30, 201703:39 PMBlog

Revenues, earnings down at TrueBlue

Oct 30, 2017 - 03:39 PM

Global staffing and related services provider TrueBlue Inc. reported third quarter financial results today from its corporate headquarters in Tacoma.

Revenue was down 5 percent to $661 million, including a previously disclosed reduction in services to its former largest customer. Excluding that adjustment, TrueBlue revenue was down 2 percent, while adjusted net income per diluted share was 60-cents compared to 72 cents in the same quarter of 2016.

“We are encouraged by this quarter’s revenue results,” says CEO Steve Cooper. “We saw improving revenue trends across all of our segments and double-digit growth in our PeopleScout business.”

The chief executive sees these trends, combined with continued progress in a digital strategy, as positioning the firm well for future revenue growth.

TrueBlue also announced an authorization from its board of directors for a $100 million stock repurchase program. It is estimating fourth quarter sales to range from $660 million to $675 million, with adjusted net income per share between 45 and 50 cents.

            

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